Study On Life Expectancy Based On Early Retirement

Earlier it was believed that people who took early retirement ended up having longer life expectancy compared to people who retired at normal age of retirement. However, this belief has now been proven wrong after researchers conducted a study on life expectancy based on early retirement.

The study on life expectancy based on early retirement was conducted in Texas, United States, over a period of 26 years. More than 3,500 employees of Shell Oil were studied during this period. The researchers studied the lives of employees who retired at the ages of 55, 60 and 65 and they also studied employees who continued working at the ages of 55 and 60. The employees came from all grades.

During the course of the study, researchers found that early retirement was not at all connected to higher or increased life expectancy. Employees who retired early at the ages or 55 and 60 had the same life expectancy as employees who retired at 65. In fact, it was discovered that employees who tended to retire at 55 were more likely to die before those who continued to work.

The study found that mortality rate was twice as high in the first ten years after retirement at the age of 55. In addition, it was also found out that men were more likely to die at a younger age compared to women.

Unfortunately the study could not calculate the average life expectancy of the workers because many of them were still alive even after the study concluded.

Early retirement fund withdrawal should be included as part of your taxable income for the year that it was withdrawn. The tax penalty for early retirement fund withdrawal is 10 percent of the withdrawn amount and this is applicable if the amount was withdrawn before the person reaches the age of 59.5 years. Also, the person would also have to pay 10 percent income tax on the taxable amount which is in addition to the regular income tax. More..